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The unadjusted trial balance of Epicenter Laundry at June 30, 2016, the end of the fiscal year follows Epicenter Laundry UNADJUSTED TRIAL BALANCE June 30, 2016 ACCOUNT TITLE CREDIT DEBIT 11.000.00 Cash 26.500.00 9.600.00 2. Laundry Supplies 3 Prepaid Insurance + Laundry Equipment Accumulated Depreciation + Accounts Payable 237.500.00 125.400.00 11800.00 1 Common Stock 40,000.00 Retained Earnings 65.600.00 # Dividends 5.000.00 252,200.00 1 Laundry Revenue Wages Experse 125.200.00 Rent Expense 40,000.00 19.700.00 ities Expense Miscellaneous Expense 5.400.00 425.000.00 11 475.000.00 Check My Work Instructions The data needed to determine year end adjustments are as follows A Laundry supplies on hand at June 30 are 58,600 B. Insurance premiums expired during the year are 55,700 C. Depreciation of laundry equipment during the year is 6,500 D Wages accrued but not paid at June 30 are 51,100. Required: Note: Download the spreadsheet on the Accounts panel saving the Excel file to your computer. Be sure to save your work in Excel The spreadsheet input will not be included in your grade in CengageNOW on this problem 1. For each account isted in the unadjusted trial balance, enter the balance in a Taccount identify the balance as "Bal" 2. Using the Excel spreadsheet downloaded from the T Accounts panel, click the Work Sheet tab. Enter the unadjusted trial balance on the end of-period work sheet and complete the work sheet 3. a Journalize the adjusting entries on page 10 of the journal. Adjusting entries are recorded on June 30 Refer to the Chart of Accounts for exact wording of account titles. Be sure to add a posting reference to the journal 3.6. Post the adusting entries. In the Taccounts, identify the adjustments by "Ad and the new balances as "Ad. Bai." 4. Prepare an adjusted trial balance 5. a Prepare an income statement for the year ended June 30, 2016 net loss has been incurred enter that amount as a negative number using a minus sign Be sure to complete the statement reading. You will not need to enter colons C) on the income statement. Refer to the Chart of Accounts for exact wording of account totes Refer to the ists of Labes and Amount Descriptions for exact wording of the answer choices for text entre other than account names. 5. Prepare a statement of stockholders equity for the year ended June 30, 2075 During the year ended June 30, 2016 additional common stock of 7,500 was issued. Ita net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign Be sure to complete the statement heading Refer to the Chart of Accounts for exact wording of account ttles Refer to the list of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names 5. Prepare a balance sheet as of June 30, 2016 Pred assets must be entered in order according to account number. Be sure to complete the statement heading you will not need to enter colons() on me balance sheet, they will automatically insert where necessary Refer to the Chart of Accounts for exact wording of accounts Refer to the list of Labels and Amount Descriptions for exact wording of the answer choices for te ebook Instructions Required: Note: Download the spreadsheet on the T Accounts panel saving the Excel file to your computer. Be sure to save your work in Excel. The spreadsheet input will not be included in your grade in CengageNOW on this problem 1. For each account sted in the unadjusted trial balance, enter the balance in a Taccount. Identify the balance as "Bal" 2. Using the Excel spreadsheet downloaded from the T Accounts panel, click the Work Sheet tab. Enter the unadjusted trial balance on the end of period work sheet and complete the work sheet 3.a Journalize the adusting entries on page 10 of the journal. Adjusting entries are recorded on June 30. Refer to the Chart of Accounts for exact wording of account titles. Be sure to add a positing reference to the journal 3.1. Post the adjusting entries. In the accounts, identify the adjustments by "Adi" and the new balances as "Ad Bal." 4 Prepare an equsted trial balance, 5 a Prepare an income statement for the year ended June 30, 2016 Ifa net loss has been incurred enter that amount as a negative number using a minus sign Be sure to complete the statement heading. You will not need to enter colons () on the income statement Refer to the Chart of Accounts for exact wording of account thes. Refer to the list of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names 5 6. Prepare a statement of stockholders' equity for the year ended June 30, 20Y6. During the year ended June 30, 2045, additional common stock of 57,500 was issued If a net loss is incurred ar dvidends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading Refer to the Chart of Accounts for exact wording of account des Refer to the ists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names 5. Prepare a balance sheet as of June 30, 2016 Fored assets must be entered in order according to account number Be sure to complete the statement heading you will not need to enter colons on the balance sheet they will automatically insert where necessary Refer to the Chart of Accounts for exact wording of account tres Refer to me lists of Labels and Amount Descriptions for exact wording of the answer choices for text entries other than account names. For those boxes in which you must enter subtracted or negative numbers use a minus sign 6 a Journaize the closing entries on page 11 of the journal Refer to the Chart of Accounts for exact wording of account titles Be sure to add a posting reference to the journal (Note: Complete the adjusted trial balance the income statement, the statement of stockholders equity and the balance sheet BEFORE completing part 6 a) 6. D. Post the closing entries in the accounts, identity the closing entries by "cios 7. Prepare a post-closing trial balance Note: Download the SPREADSHEET, saving the Excel file to your computer. Be sure to save your work in Excel. The spreadsheet input will not be included in your grade in CengageNOW on this problem 1. For each account listed in the unedjusted trial balance, enter the balance in a T account. Identify the balance as "Bal" 3.b. Post the adjusting entries. In the accounts identify the adjustments by 'Ad' and the new balances as "Ad. Bat" 6.b. Post the closing entries. In the Taccounts, identify the adjustments by Clos" al 2. a Journakze the adjusting entries on page to ease and other of Accord worden at wording of account Beweglo neum heat, the come ACCOUNTING menor POSE LY Ang 1 4. Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank Epicenter Laundry ADJUSTED TRIAL BALANCE June 30, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Laundry Supplies 3. Prepaid Insurance + Laundry Equipment 5 Accumulated Depreciation 6 Accounts Payable 11 Wages Payable 3. Common Stock $Retained Earnings to Dividends Laundry Revenue Wages Expense 13 Rent Expense + Utilities Expense 5 Laundry Supplies Expense 16 Depreciation Expense 11 Insurance Expense wa Chat

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